The Nigerian Senate has passed the Public Procurement Amendment Bill which seeks to go a long way in promoting local content. It called on the Executive to comply, especially in the area of first policy options, which would help to stimulate the Nigerian economy.

Speaking on the passage of the bill, after it had undergone its third reading during the plenary session of the Upper Chamber on Thursday, the Senate President, Bukola Saraki, said “it is aimed at making our public procurement system support.”

While expressing delight that the Senate was able to keep to its promise to pass the bill today, Saraki said: “The bill would, in a greater way, mandate government agencies to buy made-in-Nigeria products. It also will support 2016 Budget implementation by slashing days for processing contracts by half.”

Saraki added that it would encourage those who have chosen to invest in our country. “With today’s amendment, a substantial percentage of the N6 trillion in 2016 Budget will be retained in Nigeria and in the pockets of Nigerians,” he said.

•Photo shows Senate President Saraki.